The formula M(t) = 1.14t + 13.21 gives the approximate total revenue for a corporation, in billions of dollars, t years after 2000. The formula applies to the years 2000 through 2013. (a) Explain in practical terms the meaning of M(5). The expression M(5) is the total revenue for the corporation, in billions of dollars, in 2005.The expression M(5) is the year in which the corporation will earn 5 billion dollars. The expression M(5) is the total revenue for the corporation, in billions of dollars, in 2013.The expression M(5) is the year in which the corporation will earn 5 billion dollars more than it earned in 2000.The expression M(5) is the total revenue for the corporation, in billions of dollars, in 2000. (b) Use functional notation to express the total revenue for 2010. M (c) Calculate the total revenue in 2010. billion dollars

The formula M(t) = 1.14t + 13.21 gives the approximate total revenue for a corporation, in billions of dollars, t years after 2000. The formula applies to the years 2000 through 2013. (a) Explain in practical terms the meaning of M(5). The expression M(5) is the total revenue for the corporation, in billions of dollars, in 2005.The expression M(5) is the year in which the corporation will earn 5 billion dollars. The expression M(5) is the total revenue for the corporation, in billions of dollars, in 2013.The expression M(5) is the year in which the corporation will earn 5 billion dollars more than it earned in 2000.The expression M(5) is the total revenue for the corporation, in billions of dollars, in 2000. (b) Use functional notation to express the total revenue for 2010. M (c) Calculate the total revenue in 2010. billion dollars

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.4CE

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